9. From the following balances, prepare Trading and Profit and Loss A/c for the year ended 31st March 2023 and a Balance Sheet as at that date:
| Particulars | Rs. | Particulars | Rs. | |
|---|---|---|---|---|
| Life Insurance Premium (self) Opening Stock Returns Inward Furniture Freehold Property Carriage Inwards Advertising Sundry Creditors Returns outwards Commission (Cr.) Lighting Loan from bank Wages & Salaries |
500 7,500 1,000 4,600 10,000 400 200 4,850 500 600 250 5,000 7,500 |
Capital Plant and Machinery Purchases Sundry Debtors Coal, Gas and Water Carriage outwards Sales Discount (Dr.) Rent for Premises Sublet Trade Expenses Stationery Interest Charged by Bank Cash Input IGST |
40,000 12,500 36,000 10,500 1,000 100 60,000 400 500 8,650 2,000 450 2,900 5,000 |
|
Adjustments:
(i) Stock on 31st March, 2023 was Rs. 10,000 and stationery unused at the end was Rs. 400.
(ii) Rent of Premises Sublet received in advance Rs. 100.
(iii) Provision for Doubtful Debts is to be created @ 10% on Debtors.
(iv) Provision for discount on Debtors is to be created @ 2%.
(v) Stock of the Value of Rs. 4,000 was destroyed by fire on 25th March, 2023. Stock was purchased paying IGST @ 12%. A Claim of Rs. 3,000 has been admitted by Insurance Co.
(vi) Bank Loan has been taken at 12% p.a. interest.
D.K.Goel/2024 Edition/Practical Questions/Q-09
For full question, please refer to the text book Accountancy Class-XI by Mr. D.K.Goel published by Avichal Publishing Company
Answer :